Close Brothers Motor Finance has been identified as one of the major lenders affected by issues related to car finance agreements in Greater London. With an estimated 831,581 residents potentially impacted in this region alone (ONS/FCA estimate), understanding the scope and impact of these financial arrangements is crucial for local consumers.
Close Brothers Motor Finance Finance Agreements in Greater London
Close Brothers Motor Finance has been involved in a significant number of car finance agreements across Greater London since 6 April 2007. The population of Greater London, which stands at approximately 8,799,800 (ONS Census 2021), makes it one of the most populous areas affected by these issues. This large and diverse area includes a wide range of car owners who have financed their vehicles through various types of agreements with Close Brothers Motor Finance. These include hire purchase, personal contract plans (PCPs), and other forms of financing that may be subject to regulatory scrutiny.
The Financial Conduct Authority (FCA) has estimated that 12.1 million eligible agreements (FCA, March 2026) by issues related to discretionary commission arrangements (DCA) between these dates (FCA estimate). In Greater London, this translates to a significant number of residents who might have been impacted financially. The total amount set aside for redress is £7.5 billion (FCA, March 2026) (FCA, March 2026).
How to Complain to Close Brothers Motor Finance from Greater London
Residents in Greater London can complain directly to Close Brothers Motor Finance without the need for a claims management company or solicitors. The process starts by visiting the dedicated complaints page on their website: https://www.closemotorfinance.co.uk/complaints. This free service allows consumers to raise issues and seek resolution regarding any car finance agreement they have with Close Brothers Motor Finance.
It is important to note that Greater London residents should utilise this direct complaint mechanism, which is available at no cost. They do not need a claims management company to assist them in the process of making a claim or handling their complaints. This ensures that consumers can seek redress directly from the lender without additional fees or intermediaries.
What Greater London Residents Should Do Next
Greater London residents who believe they may have been affected by issues related to car finance agreements with Close Brothers Motor Finance should start by gathering relevant documents and reviewing their agreement details. It is essential to check the dates of their contracts to ensure that they fall within the period from 6 April 2007 to 1 November 2024, as outlined by the FCA. Once this information has been collected, residents can proceed with submitting a complaint directly through Close Brothers Motor Finance's dedicated online complaints portal.
By following these steps and utilising the free services provided by Close Brothers Motor Finance, Greater London residents can seek the necessary redress without incurring additional costs or relying on third-party companies.
Sources and references
- Financial Conduct Authority (FCA). "Estimates of affected agreements." FCA estimate.
- Office for National Statistics (ONS). Census 2021. ONS Census 2021
- Close Brothers Motor Finance. Complaints process page: https://www.closemotorfinance.co.uk/complaints
How Many People in Greater London Are Affected?
Based on Greater London's population of approximately 8,800,000, an estimated 1,838,805 motor finance agreements in the area may have been affected by discretionary commission arrangements (FCA estimate, proportional calculation). This represents approximately 13.13% of the UK total of 12.1 million eligible agreements.
Close Brothers Motor Finance is registered at Companies House (company number 00520241) with a status of active. The company was incorporated on 1953-06-03. Its registered office is at 10 Crown Place, London, EC2A 4FT. The company currently has 9 directors.
Close Brothers Motor Finance Complaint Statistics
According to the Financial Ombudsman Service, Close Brothers Motor Finance received 10 total complaints in H2 2024 BUSINESS. You can check the latest complaint data at the Financial Ombudsman Service.
Close Brothers Motor Finance's FCA reference number is 931092 (status: Appointed representative - introducer).